T-Mobile Introduces Smartphone Leases with JUMP! On Demand

No matter what kind of fanboy you are (iOS or Android), chances are you’re the type of person who absolutely, positively needs the latest and greatest phone the moment it comes out.

This can be expensive. If you’re still on a subsidy plan, that means you probably won’t be eligible for an upgrade until the end of your two year contract. If you’re on one of the newer installment plans, you may or may not be eligible for an upgrade, and you may or may not need to put something down against the total balance of the device.

If you’re that guy or girl, chances are you’ve thought about the benefits of leasing. You don’t plan on having a phone longer than a year — and let’s fact it, getting the timing right of selling your old device to get the most you can on the second-hand market is a delicate balancing act. Sell it too soon, and you’ll be stuck without a smartphone for a few days to a few weeks. Sell it too late and you won’t get all you could have.

If only someone offered a leasing plan for phones, right?

John Legere, the maverick CEO of T-Mobile, apparently has heard the cries of smartphone nerds like us. JUMP! On Demand, will allow T-Mobile’s customers choose between “superphones” like the iPhone 6, 6 Plus, Samsung Galaxy S6, Galaxy S6 Edge, Galaxy Note 4 and the LG G4. Qualified buyers will be able to walk out of a T-Mobile store (not Apple Stores and Samsung stores-within-a-stores in Best Buys) with a new phone for nothing down — not even sales tax — and a monthly fee, according to a press release from the company.

Customers on the JUMP! On Demand program (which begins on Sunday, June 28) can upgrade/change phones three times a year. There’s also fees if the device is damaged, so the company “suggests” that users on the program also obtain insurance for the phones.